Fuel prices, 8 lek cheaper - Government decides to reduce excise duty by 20% and establish Transparency Board
The government will intervene in the fuel market by taking measures to prevent the abnormal increase in oil and gasoline. Specifically, the excise tax on oil will be reduced by 20 percent. Currently, the excise tax is applied at 40 lek per liter of fuel, which means that it will be reduced by 8 lek, going to 32 lek/liter.
This is the first intervention that will be directly reflected in the reduction of the price of diesel and gasoline in the market by at least 8 lek per liter.
On the other hand, the government has decided to reactivate the Transparency Board, which was first established in 2022 to monitor prices and abuses that could occur in the fuel market during the Russia-Ukraine conflict.
On the other hand, profit margins have also been set for gas stations that sell wholesale and retail.
Specifically, 3 lek/liter will be the profit margin for wholesale outlets and 12 lek/liter for retail outlets.
The Transparency Board will have the task of setting ceiling prices, taking into account international markets, and operators who abuse and commit violations will be warned of administrative penalties, up to and including license suspension.
These measures are being taken after the increase in fuel prices in the market as a result of the war in the Middle East. Earlier, a joint Task Force was also established between the General Directorate of Taxes and the Customs Directorate, which is exercising controls throughout the country to prevent price abuses to the detriment of consumers and to formalize the sector.
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